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Hudson Bay Capital Management

Hudson Bay Capital Management Portfolio holdings

AUM $29B
1-Year Est. Return 30.2%
This Fund
S&P 500
This Quarter Est. Return
+3.26%
1 Year Est. Return
+30.2%
3 Year Est. Return
+99.99%
5 Year Est. Return
+135.78%
10 Year Est. Return
+498.47%
AUM
$30.3B
AUM Growth
+$259M
Cap. Flow
+$4.21M
Cap. Flow %
0.01%
Top 10 Hldgs %
25.78%
Holding
1,635
New
443
Increased
264
Reduced
288
Closed
475

Top Buys

Rank Stock Value
1
PLTR icon
Palantir
PLTR
+$412M
2
MSFT icon
Microsoft
MSFT
+$384M
3
NFLX icon
Netflix
NFLX
+$293M
4
GOOGL icon
Alphabet (Google) Class A
GOOGL
+$253M
5
AVGO icon
Broadcom
AVGO
+$190M

Top Sells

Rank Stock Value
1
AMZN icon
Amazon
AMZN
+$421M
2
SPY icon
State Street SPDR S&P 500 ETF Trust
SPY
+$172M
3
TSM icon
TSMC
TSM
+$149M
4
K
Kellanova
K
+$100M
5
UNH icon
UnitedHealth
UNH
+$86.3M

Sector Composition

Rank Sector Weight
1 Technology 14.06%
2 Financials 8.07%
3 Consumer Discretionary 6.89%
4 Healthcare 5.17%
5 Communication Services 4.66%
Name Market Value Portfolio Weight Shares or Principal Change
in Stake 		Capital Flow
HYAC.WS
826
DELISTED
Haymaker Acquisition Corp 4 Warrants
HYAC.WS
$643K ﹤0.01%
+414,916
New +$524K
GENVR
827
Gen Digital Inc Contingent Value Rights
GENVR
$629K ﹤0.01%
142,730
– –
BETA
828
Beta Technologies Inc
BETA
$5.49B
$627K ﹤0.01%
+22,220
New +$663K
IDA icon
829
Idacorp
IDA
$8.21B
$626K ﹤0.01%
+4,949
New +$644K
UMAC icon
830
Unusual Machines
UMAC
$1.35B
$622K ﹤0.01%
+48,846
New +$573K
ANRO icon
831
Alto Neuroscience
ANRO
$1.13B
$619K ﹤0.01%
+34,789
New +$438K
IMSR
832
PUT
Terrestrial Energy
IMSR
$615M
$611K ﹤0.01%
+100,000
New +$1.34M
ORKA
833
Oruka Therapeutics
ORKA
$7.11B
$606K ﹤0.01%
+20,000
New +$557K
GOOG icon
834
CALL
Alphabet (Google) Class C
GOOG
$4.19T
$596K ﹤0.01%
+1,900
New +$544K
ERAS icon
835
Erasca
ERAS
$6.45B
$588K ﹤0.01%
+158,020
New +$444K
NBHC icon
836
National Bank Holdings
NBHC
$1.92B
$579K ﹤0.01%
+15,229
New +$574K
NWAX.U
837
New America Acquisition I Corp Units
NWAX.U
$573K ﹤0.01%
+55,000
New +$571K
NOC icon
838
Northrop Grumman
NOC
$82B
$570K ﹤0.01%
1,000
+321
+47% +$186K
IMRX icon
839
Immuneering
IMRX
$328M
$559K ﹤0.01%
84,973
-17,475
-17% -$112K
AERO
840
Grupo Aeromexico SAB de CV
AERO
$2.27B
$549K ﹤0.01%
+25,000
New +$479K
VERI icon
841
Veritone
VERI
$141M
$548K ﹤0.01%
+117,842
New +$634K
BWIN
842
Baldwin Insurance Group
BWIN
$3B
$546K ﹤0.01%
+22,740
New +$579K
ASML icon
843
CALL
ASML
ASML
$695B
$535K ﹤0.01%
500
-10,200
-95% -$10.6M
COHR icon
844
Coherent
COHR
$69.6B
$532K ﹤0.01%
2,885
-95,054
-97% -$14.2M
ARX
845
Accelerant Holdings
ARX
$2.97B
$527K ﹤0.01%
32,250
-52,048
-62% -$733K
IMSRW
846
Terrestrial Energy Warrant
IMSRW
$28.8M
$524K ﹤0.01%
+247,400
New +$1.34M
AMG icon
847
Affiliated Managers Group
AMG
$9.57B
$519K ﹤0.01%
+1,800
New +$465K
KRSP
848
Rice Acquisition Corporation 3
KRSP
$481M
$513K ﹤0.01%
+50,000
New +$518K
FCRS.U
849
FutureCrest Acquisition Corp Units
FCRS.U
$512K ﹤0.01%
50,000
-151,482
-75% -$1.58M
ASMB icon
850
Assembly Biosciences
ASMB
$536M
$512K ﹤0.01%
+15,050
New +$485K
32 33
34
35 36

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Hudson Bay Capital Management's Q4 2025 Portfolio in Review

As of Q4 2025, Hudson Bay Capital Management held 1,635 positions worth $30.3B, up 0.86% from $30.1B the previous quarter. Its ten largest holdings account for 26% of the portfolio.

Hudson Bay Capital Management's Q4 2025 filing shows 443 new, 264 increased, 288 reduced and 475 closed positions. Its largest new stake was Vertiv: 964,604 shares worth $156M. The largest sale was Amazon, an estimated $421M.

By sector, the portfolio is most concentrated in Technology at 14% of assets, up from 11% a quarter earlier, followed by Financials and Consumer Discretionary.

  • Hudson Bay Capital Management's largest Q4 2025 buy was Vertiv: 964,604 shares worth $156M.
  • Hudson Bay Capital Management added most to Palantir in Q4 2025, an estimated $412M increase.
  • Hudson Bay Capital Management's biggest Q4 2025 reduction was Amazon, cutting an estimated $421M.
  • Hudson Bay Capital Management fully exited Kellanova in Q4 2025, selling an estimated $100M.
  • Hudson Bay Capital Management's ten largest holdings make up 26% of its $30.3B portfolio in Q4 2025.
  • Hudson Bay Capital Management opened 443 new positions and closed 475 in Q4 2025.
  • Hudson Bay Capital Management's portfolio value rose 0.86% quarter-over-quarter to $30.3B.

Based on Hudson Bay Capital Management's 13F filing for Q4 2025, filed 13 Feb 2026.